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Marketers: Buying Power of Gays to Exceed $835 Billion
Saturday Dec 01, 2011
Lauren Prince

Apparently, we gays are doing pretty well. Last year, marketers guestimated our buying power at $660 billion; according to a new report, though, our buying power is set to exceed $835 billion by 2011.  Such phenomenal growth and consumer power has not gone unnoticed by major national marketers, say Witeck-Combs Communications, the gay PR and marketing firm that partnered with market researchers Packaged Facts to fund the study.

The report points to LOGO as an example, the new gay and lesbian cable TV outlet, which has more than 80 major brands as sponsors. According to the report The Gay and Lesbian Market in the U.S., advertisers are increasingly targeting gays in mainstream media, particularly online, as gays tend to have a higher proclivity towards digital entertainment than their heterosexual counterparts.

The report also tracks the exceptional visibility in the growing numbers of gay and lesbian households and families and provides a comprehensive demographic and regional profile highlighting the core nesting, consumption and travel habits of gay men, women, and couples.

"What we're finding since our last report two years ago is a greater openness among gays and lesbians to share their consumer habits, leisure and media pursuits, and personal/social attitudes," notes Don Montuori, the publisher of Packaged Facts. "At the same time there is a growing trend towards acceptance among the American people which is opening up greater opportunities to market to gays and lesbians in traditional and online venues."

"As trendspotters, we see marketers hungry to acquire more appreciation of gay America's economic standing, as well as more sophistication about what makes gay households like and unlike other households," said Bob Witeck, CEO of Witeck-Combs Communications. "This report should make a profound and timely contribution to these insights."

Now in its 5th edition, The Gay and Lesbian Market in the U.S. says it provides the most in-depth psychographical look at the consumer behaviors and attitudes of gays and lesbians available.